Boosting Innovation With Augmented Reality - A Strategy for Nokia

Nokia's Competitive Edge

The purpose of this paper is to improve the innovative edge of Nokia in the market by following a massive transformation plan that will boost the company's call around the whole world. Nokia was the first brand in the market when the first mobile phones were introduced. Nokia does have a tremendous vital edge in the technological phase. Previously, Nokia was one of the leading player in the mobile sector, but in the recent years, the organization has lost competitive advantage. Thus, to overcome challenges and gain competitive advantage, Nokia must consider impacting today's market by making people's lives better through technology and innovation. In recent times, Nokia launched new phone models. Due to the wide variety of price points, Nokia has managed to appeal to a broad spectrum of consumers. Now, the current responsibility of the organizational leaders of Nokia is to focus on constant innovation. They should make sure to meet the change in the needs and desires of the customers. The aim of this report is to discuss the process through which Nokia can improve its productivity and profitability by applying the ExO concept. The profitability and productivity can be improved in following ways.

1.Adopting sustainable and innovative strategy

2.Increase market share. 

3.Increase employee satisfaction

4.It is responsibility of the organizational leaders to undertake exponential technology technique that can help the firm to allow change at a fast pace. 

The objective of this tool is to strategically within the firm and focus on performing brainstorming sessions

Strength 
Nokia is well-known for providing durable and reliable products since it has started its business. This is one of the major reason, customers tend to buy Nokia phones. 

Weakness 
The company has received several criticisms because it failed to compete in the mobile market with its innovating capabilities. 

Opportunities 
The deal that has been made by Nokia with that of Microsoft is considered to be one of the winning deal for Nokia. This deal can be further used by the organizational leaders of Nokia to focus on innovation. Furthermore, initiation of Augmented Reality is considered to be one of the major advantage for the organizations operating in the mobile sector or consumer electronics sector. Thus, integration of AR can bring major benefits and opportunities for Nokia that can further help the company to grow and compete with other companies in the global market. 

Threats 
Intense competition in the global market can be one of the major threat for Nokia. Furthermore, with the increase in number of companies in the consumer electronics or global market, employees are available with lots of option. Therefore, incapability to retain skilled employees within the workplace can bring major threats to the work process of Nokia. 

The main aim of conducting this section of the report is to mention the objectives of the report that will be fulfilled with the help of ExO concept. 

1.It is the responsibility of the organizational leader to use exponential technology. Thus, the primary objective of this project is to help the organizational leader of Nokia to use exponential technology that can further help Nokia to practice sustainable business, reduce cost and compete in the global market. 

2.The competitors of Nokia, especially Samsung and Apple has focused on product diversification. They have launched ipads, tablets, desktops and many more. The objective of this project is to guide the senior managers of Nokia so that they can adopt product diversification technique in a sustainable way. 

3.Another major objective of this project is to use this EXO model and help the organizational leaders of Nokia understand the coping mechanism amidst this global pandemic. Thus, it can be said that EXO framework can be used in the core operation of Nokia that can further help the organization to get itself transformed in a positive way.

Conclusion 

The aim of this report was to focus on implementing edge stream program in the core operation of Nokia so that the organization can increase its sales and generate profit. The report concludes that Edge stream program has helped the organizational leaders of Nokia understand the importance of product diversification and usage of Augmented Reality technique to sustain in the market and increase profitability. The report also concludes that usage of AR to serve the customers is helping the organization to reduce electric consumption of the stores. This is not only reducing the cost of the company but it is also helping Nokia to consume energy which is further considered as one of the sustainable business practice.